Peacocks, a popular clothing store, has closed one more shop. This is after they had already closed over 200 of their stores. The chain used to have more than 400 stores all over the UK. The latest shop closed on March 16.
Peacocks Struggles Continue: More Stores Close
Peacocks, a well-known clothing chain, fell into serious financial trouble in 2020, closing over half its 400 stores.
Peacocks, part of Philip Day's EWM Group, went into administration last November, affecting 423 stores and 4,369 staff. Backed by Dubai-based investors, Steve Simpson will now lead Peacocks.
In April 2021, hIn April 2021, he reopened 200 stores and saved 2,000 jobs, outbidding Mike Ashley for the brand. The deal's financials are undisclosed, and former owner Day will not be involved. Simpson aims to reopen stores after lockdown restrictions ease, revitalizing the brand.
Despite this rescue, Peacocks is still facing tough times and has been forced to shut down more stores to keep the business running.
The latest closure happened at the Peacocks store in Clarendon Square Mall in Hyde, which permanently closed its doors on Saturday, March 16.
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Peacocks Stores Closing Permanently Across the UK
The nearest Peacocks store to Hyde is now in Ashton-under-Lyne, following the permanent closure of the Hyde branch. This store had a closing sale in 2020 and reopened post-COVID restrictions but will now shut for good.
Peacocks is not stopping there; several more stores are expected to close in the next few weeks. However, they're going out with a big sale, offering 30% off everything.
In Kent, the Ashford County Square Shopping Centre's Peacocks will close on March 23, shortly after reopening from electrical repairs. Camborne's store in Cornwall is set to close on April 3, and the Boscombe branch in Bournemouth will follow on April 6, disappointing local shoppers.
These closures were announced on Peacocks' Facebook page, alongside images of closing down signs.
Peacocks faced administration in November 2020, closing half of its 420 stores due to the pandemic's impact and lockdowns. Despite these setbacks, the chain has been returning, with its store count nearing 350.
Last October, Peacocks announced plans to open seven new stores in Wales, England, and Scotland, although specific opening dates were not shared.
Peacocks has not yet shared the dates when its new stores will open. Meanwhile, the clothing retailer is preparing to shut down nearly half a dozen existing stores in the next few weeks.
The closures include the Clarendon Square Mall location in Hyde on March 16, followed by stores in Merthyr Tydfil, Wales, and the County Square Shopping Centre in Ashford, Kent on March 23. Additional closures are scheduled for Camborne, Cornwall, and Boscombe, Bournemouth, on April 3.
These closures are part of a broader trend of challenges on the high street, as several other major retail chains have also experienced significant business downturns.
About Peacocks
Founded in 1884 by Albert Frank Peacock in Warrington, Cheshire, Peacock's Penny Bazaars epitomized the Victorian Penny Bazaar ethos, offering various items grounded in value. This principle of providing value helped Peacocks grow into a successful business through the twentieth century.
In 1940, the company, under Albert's son Harold, relocated to Cardiff, setting the stage for further expansion. From the mid-1990s, Peacocks evolved with a stronger focus on fashion, marking significant growth and development.
This shift towards trendy, affordable clothing propelled Peacocks to success in the competitive retail market, solidifying its status as a key affordable fashion retailer.
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